Bank RBK leads in term deposit growth

Term deposits are the most popular option. These include fixed-term and savings deposits but exclude funds held in current accounts.

As of August 1 this year, term deposits in Kazakhstan’s banks rose by 20% year-on-year to 26.8 trillion tenge. In monetary terms, the increase amounted to 4.5 trillion tenge.

However, performance varied considerably across Kazakhstan’s second-tier banks. Only 11 banks recorded growth over the year, while six financial institutions saw their term deposit balances decline. Two new banks do not yet have sufficient data to assess changes over the period under review, while another two foreign banks do not hold retail term deposits due to the nature of their operations.

Bank RBK recorded the strongest growth in term deposits among Kazakhstan’s second-tier banks, at 47.8%, more than twice the sector average. As of August 1, the bank’s term deposit portfolio reached 797.9 billion tenge.

Several factors explain Bank RBK’s leading position. For example, it offers one of the broadest product ranges in the sector, meeting the needs of virtually all customer groups. These include flexible deposits such as Smart, with daily interest compounding, and Depositum, with monthly interest payments; Dream, Grand and Safe savings deposits; and the Aqyl education deposit under the State Education Savings System.

The Grand savings deposit, which offers a higher interest rate, remains one of Bank RBK’s most popular retail products. It offers an interest rate of up to 17.18% on tenge deposits, with an annual effective interest rate of up to 18.6%. Customers can also obtain a premium debit card free of charge, with no service fees throughout its validity period, subject to the applicable tariffs. Premium cardholders also benefit from the Sarqyt loyalty program, which offers cashback of up to 8%.

Bank RBK’s strong international credit ratings remain an important factor underpinning customer confidence. The bank currently holds some of the highest ratings among Kazakhstan’s second-tier banks with Kazakh ownership: BB with a Stable Outlook from Fitch Ratings and Ba2 with a Stable Outlook from Moody’s. These assessments reflect the bank’s sound financial position and provide customers with an additional indicator of its reliability.

Freedom Bank ranked second after Bank RBK, with term deposit growth of 46.2%.

ForteBank rounded out the top three, recording a 38.2% increase in term deposits.

Otbasy Bank and Home Credit Bank also ranked among the top five, each posting growth of 23.7%.

Strong performance by individual banks is therefore contributing to robust growth across the sector. This trend has become particularly evident over the past few years. While the sector faced certain difficulties before 2021, the market subsequently began growing at double-digit rates.

Over five years, retail term deposits increased more than 2.5-fold, with average annual growth reaching a substantial 21.1%. Over a longer, ten-year period, the total grew fourfold.

As a result, term deposits have become one of the key drivers of growth in Kazakhstan’s retail deposit market. High interest rates, a growing range of deposit products and easier account opening through mobile apps continue to encourage individuals to place their money with banks. Meanwhile, substantial growth over the past five- and ten-years points to a long-term expansion of the deposit base and the increasing importance of household deposits as a source of funding for the banking sector.

Earlier, Qazinform News Agency reported on Bank RBK’s support for sport, including its partnerships with tennis player Elena Rybakina and football club Ordabasy.

License № 1.1.821.135, issued by the Agency for Regulation and Development of the Financial Market on July 15, 2026.